Sawgrass Asset Management LLC Sells 276 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sawgrass Asset Management LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,068 shares of the asset manager’s stock after selling 276 shares during the period. Sawgrass Asset Management LLC’s holdings in T. Rowe Price Group were worth $879,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TROW. Mitsubishi UFJ Trust & Banking Corp raised its holdings in T. Rowe Price Group by 3.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 204,369 shares of the asset manager’s stock valued at $24,812,000 after buying an additional 6,153 shares during the last quarter. Edgestream Partners L.P. grew its holdings in T. Rowe Price Group by 40.3% in the 1st quarter. Edgestream Partners L.P. now owns 11,656 shares of the asset manager’s stock worth $1,421,000 after acquiring an additional 3,347 shares during the last quarter. Davis R M Inc. increased its position in shares of T. Rowe Price Group by 9.1% in the first quarter. Davis R M Inc. now owns 145,369 shares of the asset manager’s stock valued at $17,723,000 after acquiring an additional 12,140 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of T. Rowe Price Group by 44.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 16,040 shares of the asset manager’s stock valued at $1,956,000 after acquiring an additional 4,938 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $679,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Evercore ISI boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Barclays upped their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, TD Cowen decreased their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $118.77 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $96.46 and a 1 year high of $122.27. The firm has a 50-day moving average of $110.77 and a 200 day moving average of $112.18. The stock has a market cap of $26.39 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $2.17 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.